Question

At the end of May, the sales journal of Mountain View appears as follows. Assume beginning inventory balance for May to be $9,546.
  

Date	Account Debited	Invoice Number	PR	Accounts Receivable Dr. Sales Cr.			Cost of Goods Sold Dr. Inventory Cr.
May 6	Aaron Reckers	190			3,020			2,295
10	Sara Reed	191			2,080			1,716
17	Anna Page	192			926			544
25	Sara Reed	193			370			218
31	Totals				6,396			4,773

  
Mountain View also recorded the return of defective merchandise with the following entry.

Date	General Journal	Debit	Credit
May 20	Sales Returns and Allowances	175
	Accounts Receivable—Anna Page		175
	Customer returned (worthless) merchandise.

Required:  
1. Post to the customer accounts the entries in the sales journal and any portion of the general journal entry that affects a customer's account.
2. Post the sales journal and any portion of the general journal entry that affects these accounts.
3. Prepare a schedule of accounts receivable.
  

Answer 1

1	Account receivable - Subsidiary ledger
	Anna page
	Date	Debit	Credit	Balance
	17-May	926		926
	20-May		175	751
	Sara Reed
	Date	Debit	Credit	balance
	10-May	2,080		2,080
	25-May	370		2,450
	Aaron Checkers
	Date	Debit	Credit	balance
	6-May	3020		3020
2	General Ledger
	Account receivable
	Date	Debit	credit	balance
	31-May	6,396		6,396
	31-May		175	6,221
	Sales
	Date	debit	credit	balance
	31-May		6396	6396
	sales return & allowances
	Date	Debit	Credit	balance
	31-May	175		175
	Inventory
	Date	debit	credit	balance
	opening	9546		9546
	31-May		4773	4773
	Cost of goods sold
	Date	Debit	Credit	balance
	31-May	4773		4773
3	Schedule of account receivable
	31-May
	Anna page			751
	Sara Reed			2450
	Aaron Reckers			3020
	Total Account Receivable			6221